Solar Panel Cost Guide in Rensselaer, IN (2024 Update)
- Rensselaer Solar Installation Cost: $25,495
- 25-Year Savings: $26,825
- Payback Period: 14.7 Years
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Average Cost of Solar Panels in Rensselaer
We go over average solar pricing in Rensselaer.
Although the national average of solar panels is $2.66 per watt, solar panels in Rensselaer typically cost around 4.Since a 8.9-kW system is needed to cover the energy usage of a typical home in Rensselaer, the average price of going solar will be about $25,495 after claiming the federal solar tax credit of 0.
These figures are just estimates, and your own solar costs will vary based on your specific situation and what company you go with.But, after you've paid the upfront cost of installation, the ROI for most homeowners is typically rewarding, with a net average savings of about $19,000 over 20 years on energy bills.
You can click the button below to get connected with a pre-vetted solar installer in Rensselaer that can help you get a more accurate cost estimate for your home.
Solar savings over time in Rensselaer
| Year | Return on Investment |
|---|---|
| 1 years | $-23,775 |
| 3 years | $-20,336 |
| 5 years | $-16,896 |
| 7 years | $-13,457 |
| 9 years | $-10,017 |
| 11 years | $-6,578 |
| 13 years | $-3,138 |
| 15 years | $301 |
| 17 years | $3,740 |
| 19 years | $7,180 |
| 21 years | $10,619 |
| 23 years | $14,059 |
| 25 years | $17,498 |
Top Solar Installers in Rensselaer
When switching to solar energy, many homeowners choose to use a solar installer since putting up solar panels yourself can be a time-consuming project. Companies can also provide access to various kinds of the best solar panels and help you pick which one will be best for your home.
You can get a free estimate from a local solar installer on how much solar panels could cost for your home. Here are some near you:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Rensselaer
Factors that Affect Solar Panel Costs in Rensselaer
Cost is typically one of the most important factors for homeowners who are considering investing in solar. There are a few key factors that affect your total cost in Rensselaer: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power generation use better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $4,100.There are many different solar panel brands and the one you pick also changes the cost. Usually, the brands that have better efficiency tend to also be more expensive. Plus, the type of equipment you choose can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a significant investment. That’s why many Rensselaer homeowners choose to finance their solar panel systems to make paying for solar more affordable.However, the interest on solar loans also adds to your overall costs, so it’s crucial to consider that as well. You can always lower the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
The solar panel installer you pick will influence your total cost to make the switch to solar . Different companies will bill different amounts for the equipment and labor.The size of the company sometimes plays the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower prices because of access to greater resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger companies.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $4.26 | $17,909 | $11,466 | 15.2 years |
| 8 kW | $4.18 | $23,419 | $15,747 | 14.9 years |
| 10 kW | $4.10 | $28,700 | $20,258 | 14.7 years |
| 12 kW | $4.02 | $33,751 | $24,998 | 14.4 years |
| 14 kW | $3.94 | $38,573 | $29,968 | 14.1 years |
| 16 kW | $3.85 | $43,165 | $35,167 | 13.8 years |
| 18 kW | $3.77 | $47,527 | $40,596 | 13.5 years |
| 20 kW | $3.69 | $51,660 | $46,255 | 13.2 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, including when the site survey will be done and what the project timeline is.
- Warranty: A comprehensive, 25-year warranty can help keep your solar system running smoothly and save you money on part replacement and repairs.
- Reputation: Your solar installer should have a good reputation as a company and have verifiable expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from past customers.
- Contract: When looking over your solar company’s contract, ask questions about any terms you’re not sure of and be sure you understand what happens in scenarios such as a system component breaking or the company going out of business.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Rensselaer, IN Solar Cost FAQs
How much does it cost to install solar panels in Rensselaer?
This is a tough question to answer precisely, because the cost depends on many factors. Generally speaking, it costs about $20,500 for a 5-kW system and $41,000 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or more efficient panels, or if you have above-average energy needs. Conversely, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Rensselaer?
Leasing solar panels can be an appealing choice, as it typically comes with low or $0 upfront payments. The drawback is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any tax rebates and credits and your home value won’t increase. Buying solar panels is a better way to go if you want to get the most savings.
Can you sell solar power back to the grid in Rensselaer?
The majority of states have net metering programs of some kind. Through these, you can either receive compensation for the extra power your system generates or or receive credits to put toward future energy bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in Rensselaer?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount of energy production.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Company research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.